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Allard Responds to Treasury Department's Plan to Save Fannie-Freddie

Press Release

Date: July 14, 2008
Location: Washington, DC


ALLARD RESPONDS TO TREASURY DEPARTMENT'S PLAN TO SAVE FANNIE-FREDDIE

U.S. Sen. Wayne Allard (R-Colo.) responded today to the U.S. Dept. of the Treasury's proposal to bolster Fannie Mae and Freddie Mac that enables the two quasi-governmental agencies to continue to borrow money at favorable rates in order to fund their operations.

"Fannie Mae and Freddie Mac have long been important for homeownership in America and their continued existence and health is critical," said Allard. "I am pleased to see that the Administration has come forward with a plan to shore them up and restore confidence. As a senior member of the Senate Banking Committee, I stand ready to work with President Bush, Secretary Paulson, and my colleagues to take the steps necessary to ensure that Fannie and Freddie are able to meet their homeownership mission."


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